VersaPay Announces Re-Appointment of Officers

(June 15, 2012)

TORONTO, ONTARIO -- (Marketwire) -- 06/15/12 -- VersaPay Corporation (TSX VENTURE:VPY) ("VersaPay" or the "Company"), a leading provider of Electronic Invoice Presentment and Payment ("EIPP") solutions, announces the reappointment of its current senior officer team in Canada:

The Company also announces the grant of incentive stock options to certain directors, officers, employees and consultants of the Company to purchase up to 845,000 common shares in the capital stock of the Company under its share option plan. The options are exercisable at a price of $1.00 per share on or before June 15, 2017 (with the exception of 100,000 of the options which expire June 12, 2013), subject to the approval of the TSX Venture Exchange and applicable hold periods.

More information about VersaPay can be found at www.versapay.com.

About VersaPay

VersaPay is a financial technology company that delivers payment solutions for businesses. VersaPay, together with its partners, provides the hardware, technology, infrastructure and support services to enable businesses of all types require to accept and process electronic payments.

In addition, the Company's proprietary Electronic Invoice Presentment and Payment platform facilitates the efficient exchange of documents and payments between suppliers and customers.

VersaPay has operations in Toronto, Montreal, Vancouver and Long Island, NY.

Forward Looking and Other Cautionary Statements

This news release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company's current expectations. When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology, are intended to identify forward-looking statements and information. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks relating to the speculative nature of the Company's business, the Company's formative stage of development and the Company's financial position. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward looking statements if these beliefs, estimates and opinions or other circumstances should change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.